Background: Hip fracture accounts for more than 20% of orthopaedic bed occupancy in the UK (Henderson, Malley, & Knapp, 2007). Treatment of hip fractures accounts for 1% of the National Health Service (NHS) budget (Johansen et al., 2013). Method: This economic evaluation accompanies the FEMURIII randomised controlled trial (Williams et al., 2020) and involves fully costing the development, training and roll out of the FEMURIII intervention. The main outcome measure in the economic evaluation are quality-adjusted life years (QALYs). Quality of life weights will be measured using the EQ-5D-3L Quality of Life (QoL) validated measure (EuroQol Group, 1990; EuroQol Research Foundation, 2018). Results: The health economics component of the FEMURIII trial will be reported in accordance with the Consolidated Health Economic Evaluation Reporting Standards (CHEERS) statement (Husereau et al., 2013). Group characteristics will be summarised using means and proportions and costs for both groups will be fully described and analysed. The full cost of the multidisciplinary rehabilitation programme (FEMURIII) will be calculated and a cost utility statement will be produced. Discussion: The FEMURIII economic evaluation will be discussed in terms of cost utility and effectiveness of the intervention in improving quality of life of those aged over 60 with hip fracture in the UK National Health Service (NHS) setting. Conclusion: This cost utility economic analysis will assist decision makers and the National Health Service Trusts to either adopt or not adopt the FEMURIII intervention in the regions of the UK where it is not currently provided as a rehabilitation treatment programme for hip fracture. Trial registration number: ISRCTN28376407